A report from Kaiko Research said that ETH price would be sensitive to the spot Ether ETF inflows amid the poor demand for the Ethereum futures products late last year.
A multi-crypto ETF is an investment fund that holds a diversified portfolio of cryptocurrencies, such as Bitcoin, Ethereum, and Solana, within a single security.
The Binance CEO said that the Spot ETH ETF could make investing in the digital currency more accessible and attractive to more investors.
The bond issuance also leveraged the interoperability “TIPS Hash Link” tool provided by the Bank of Italy.
The Grayscale Ethereum Mini Trust (ETH) is now the most competitive in annual sponsor fees, thus triggering a possible fee war ahead.
Despite the positive performance this week, crypto traders remain cautious. Blockchain market intelligence firm Santiment has recently noted a decline in positive Bitcoin commentary on social media compared to four months ago.
The US SEC approved the Grayscale Ethereum Mini Trust and ProShares Ethereum ETF on Wednesday with trading expected to commence next week.
On July 17, BlackRock’s Bitcoin ETF, known as IBIT, recorded the highest inflow in a single day, bringing in a total of $110.37 million.
BlackRock’s IBIT emerged as the frontrunner, attracting a staggering $117.25 million in net inflows on Monday, marking it as the most actively traded Bitcoin ETF with $1.24 billion in trading volume.
The traction that IBIT has garnered helped it to outshine GBTC significantly in terms of inflows.
Analysts agree that the launch of ETH spot ETFs could act as a major catalyst for Ethereum price in the coming months.
Culper Research recently published a report, accusing Iris Energy of insufficient capacity for AI and HPC at its Childress site.
Justin Sun is just one of many whales accumulating Ether ahead of the potential Ethereum spot ETF approval in the coming days.
Despite the positive inflows, the overall trading volume on spot Bitcoin ETFs remains considerably lower compared to the peak in March and April 2024, when daily volumes surpassed $12 billion.
The influx of capital into spot Bitcoin ETFs seemingly coincided with a positive price movement for the underlying asset. Bitcoin rose 2.70% in the past 24 hours.